chapter 5 Bond Market课件.ppt

Chapter 5 Bond Market;Course Structure;Preview;Capital markets are for securities with an original maturity that is greater than one year. These securities include bonds, stocks, and mortgages(抵押贷款) .  How the capital markets operate will be discussed before launching into the study of bonds.;Purpose of the Capital Market;Who Participates in the Capital Market;Who Participates in the Capital Market;Who Participates in the Capital Market;Essence of Bonds;Essence of Bonds;;Characteristics of Bonds;Types of Bonds;Financial Bond Deposit;Characteristics of Corporate Bonds;;;;;;Sinking Fund;;;Conversion转让;;Types of Bonds;Discount Bond？;Coupon Bond?;Maturity Bond？;Types of Bonds;Unsecured Bond;Secured Bond;Types of Bonds;Bonds issued in foreign currencies;Bonds issued in foreign currencies;Progressive increase interest finance bond累进利息金融债券;Types of Bonds;Registered Bond;Bearer Bond;Types of Bonds;Public Offering Bond;Private Placement Bond;Private placement bonds differ from publicly offered bonds in three key areas: (1) the design of bond covenants（契约） , (2) credit monitoring, and (3) the relatively ease of renegotiation;Part 2 Bond Market;;Functions of Bond Market;Issuance of Bonds;Preconditions of Bonds;Methods and Costs of Issuance;Credit Rating of Bonds;Credit Rating of Bonds;Credit Rating of Bonds;;Negotiation of Bonds